RHI Magnesita (LON:RHIM) Stock Price Up 1% – Here’s What Happened

RHI Magnesita (LON:RHIM) shares rose 1% during trading on Wednesday. The company traded as high as GBX 2,700 and last traded at GBX 2,645. 1,196,783 shares traded hands during mid-day trading, an increase of 1,050% from the average daily volume of 104,099 shares. The stock had previously closed at GBX 2,620.

Analyst Ratings Changes

Separately, Berenberg Bank restated a “buy” rating and set a GBX 4,000 price objective on shares of RHI Magnesita in a research report on Wednesday, September 30th. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 3,453.75.

RHI Magnesita Stock Up 1.0%

The firm has a market capitalization of £1.25 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 2.03 and a beta of 1.50. The company has a debt-to-equity ratio of 169.57, a current ratio of 1.48 and a quick ratio of 0.93. The stock has a fifty day moving average of GBX 2,836.20 and a two-hundred day moving average of GBX 2,818.32.

RHI Magnesita Company Profile

RHI Magnesita is the leading global supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals and glass. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves customers around the world, with over 20,000 employees in 65 main production sites (including raw material sites), 12 recycling facilities and more than 70 sales offices.